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ten•ure

Pronunciation: (ten'yur),[key]—n.1. the holding or possessing of anything: the tenure of an office.2. the holding of property, esp. real property, of a superior in return for services to be rendered.
3. the period or term of holding something.
4. status granted to an employee, usually after a probationary period, indicating that the position or employment is permanent.

—v.t.to give tenure to: After she served three years on probation, the committee tenured her.